Media

David Callahan posted a terrific blog yesterday that outlined HSBC’s outrageous behavior as catalogued in a 350-page report by the Senate’s Permanent Committee on Investigations.

Today we got a concrete sense of why, exactly, the banks fought so hard to kill the Consumer Financial Protection Bureau: Because, among other things, this is an agency that can slap the banks with huge fines and force them to alter their business practices by legal fiat.

Without your consent, approval, or even awareness, large for-profit credit reporting companies know an awful lot about you. TransUnion, Experian, Equifax and their smaller competitors know the credit limit on your AmEx card, how much you still owe in student loans, and all about that time you made the car payment late. Now, for a change, we may get to learn a bit more about them.

One of the big questions environmentalists struggle with is whether there should be a price on nature. For some things, like the cost savings that are realized through cleaner air or water, there is a rote calculation that can be done to price out environmental and health benefits. But, if you think of nature as an independent entity having a worth beyond what it can provide to humans, how do you put a price on it? How much is the Amazon River or the Himalayan mountain range worth?

WASHINGTON, DC – Last night, the DISCLOSE Act which would shine a light on the dark money dominating our democracy was defeated on the Senate floor. Although it received a majority of votes it failed to overcome a filibuster from Senator McConnell. 

Tonight, critical legislation that would shine a light on the dark money dominating our democracy was defeated on the Senate floor. To be clear, it received a majority of votes, but failed to overcome a filibuster from Senator McConnell.

After years of scandals and abuses, it's hard to be surprised by the criminal behavior of major banks. Typically, though, exposes of bank wrongdoing have focused on their financial shenanigans.

But yesterday, thanks to the dogged work of Senate investigators, we learned that the criminality of some banks goes much deeper, with these institutions servicing drug traffickers and terrorist-linked entities, and circumventing U.S. laws governing ties with rogue states like Iran, Sudan, and North Korea.

All to boost the bottom line.

At a campaign stop in Ohio yesterday, President Obama said the following:

The Supreme Court issued a little-noticed decision in a Maryland case that gave the green light to states to eliminate the repugnant practice of “prison-based gerrymandering.”